turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

When entering information for traditional IRA contributions, is this only my contribution amount, or does it include employer's contribution as well?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
dmertz
Level 15

When entering information for traditional IRA contributions, is this only my contribution amount, or does it include employer's contribution as well?

Employer contributions are not reportable on your tax return.

 

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  

 

While it's possible to have your employer deposit part of your pay reported to you in box 1 of your W-2 into a traditional IRA as a convenience to you, the same as if the money was given to you on your paycheck and you contributed the money yourself, the retirement contributions are likely not such contributions and are not reportable anywhere under Deductions & Credits.

JulieS
Expert Alumni

When entering information for traditional IRA contributions, is this only my contribution amount, or does it include employer's contribution as well?

No, you do not include your employer's contributions in the IRA. section. You also don't include any workplace retirement plan as that contribution is accounted for on your W-2 form. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question